(Courtesy of Altos Research.)
The median list price in PHILADELPHIA, PA this week is $198,000. The 651 properties have been on the market for an average of 197 days.
The Market Action index has been trending down lately, while days-on market is climbing, providing mostly bearish signs for the market.
Supply and Demand
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Price
Price trends continued their recent uptrend this week. While still below the market’s price high-point, we’ve seen a nice run recently.
Market Action Index
The PHILADELPHIA market is currently in the Buyer’s Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 27.12 so buyers should expect to find reasonable levels of selection.
Days on the Market
The properties have been on the market for an average of 197 days. Half of the listings have come newly on the market in the past 148 or so days.
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For more information about single family homes in Philadelphia, contact Mike McCann.
